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to report. the big apple is expected to be back by 2013 and that is not the case for other major metro areas. a report commissioned by the u.s. conference of mayors, one in 7 will not reach prerecession levels until 2020. that is the engines of u.s. economic growth and producing the jobs that. can mean problems for the u.s. economy and while areas have picked up. others are lagging. >> there are things that are holding recovery back and that is still the housing market. places with big housing booms and busts. florida, and southern california . nevada and parts of the rest of the southwest. in new york city internet start ups are helping to create thousands of jobs. oyster.com. it is it a hotel reviewing. they started with five employees and grew to 20 and expect to add 100 new people in the new york headquarters made possible by the pool of potential workers . we havital ept and design and media and a lot of thital ept and engineering and marketing as well it is a great place for a start up. i am not the only one who thinks it. it is a challenge. >> and so if you are in the tech field work
is likely to be recovered. no word yet on what caused that break. plus, big developments in the most urgent debate in washington, raising the u.s. debt ceiling. according to the u.s. treasury, time is quickly running out. if congress does not pass a bill to raise the nation's borrowing limit the united states will run out of money by august 2nd and possibly for the very first time in u.s. history, begin defaulting on loans. weeks of negotiations have failed to produce a deal and democrats want new taxes. while republicans oppose tax hikes, they want major spending cuts. yesterday, in his weekly address, president obama said everything has to be on the table, and today, republican lawmakers showed some willingness to accept a flurry of proposals, including eliminating some tax breaks. >> do we believe the tax reform is yes? i would say absolutely. there's not enough team to get this done between now and august the 2nd, but it ought to be the first thing we try to turn to to make our tax code more rationalnd eliminate tax expenditures and loopholes and actually make our nation more competitiv
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